Candlesticks Vol 1 - Candlestick Design

[MusiDGenius]

Great video really helpful!

Just a basic question: how these candle stick helps me in buying a pair?

[YourTradingCoach]

@MusiDGenius

Hi MusiDGenius,

The candlestick patterns simply provide an indication of a short-term shift in the buying/selling pressure. How we use that is demonstrated in the followup videos 2-16.

Cheers,

Lance

[alter3go]

great video! Could you tell me what the story is behind the gap between a low and open on a bullish candle for instance? is the low ask price and the open bid price ?

[YourTradingCoach]

@alter3go I'm not sure exactly what you're asking. The candle represents one period of time. Let's say 5-mins. Price starts the 5-min time period at the OPEN. It moves up and down for the next 5-mins depending on orderflow and finishes the time period at the CLOSE. During that 5-min the lowest price achieved is the LOW. The highest price achieved is the HIGH. It's nothing to do with bid or ask prices. If I've misunderstood the question, please ask again.

[FreeFOREXautoROBOTT]

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[virginiatechfanx]

Do they teach how to read a candlestick chart in college?

[YourTradingCoach]

@virginiatechfanx

Which country? Which college? What course? It might be better to ask them! :-) I don't know of any which do though.

[valarmanwe]

Have you made any videos on moving averages ?

[hitchslap101]

Helpful, thanks

[brucecoad]

Thank you. Very clear and easy to understand.

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[byen8]

so does the tail at the bottom of the candle represent the lowest the price dropped to during that period?

[YourTradingCoach]

@byen8

Hi byen8,

Yeah... the low point of the lower candle tail indicates the lowest price traded during the candle time period. The high point of the upper tail indicates the highest price.

Cheers,

YTC

[faYte0607]

@YourTradingCoach Thanks so much for the fast response! Now i understand the OHLC. I've always thought that stocks only have Open & Closing Prices once a day as that's what I see on stock tables... Now I know why I can see OHLC for every hour or even minute depending on what interval I select! Thanks again!!!

[freeSCALPINGindicato]

yeah, brilliant! Happy SCALPING trading...

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[salisat]

thank you

[joemc111]

Nicely put.

[cedriclovesaaron]

thank you

[djseankl]

good video

[glentubin]

Hi Lance!

Coming over from Baby Pips and I am about to graduate from first grade. I just want to clarify the Marubozu. Since the Candle has no shadows and a full body then it means that there was strong trading but the price did not have much movement? Some Marubozus seem to have very tiny shadows and full bodies so I guess the prices moved a little bit. But my take is that it's a candle with heavy trading but not much fluctuation in price.

Am I right?

[YourTradingCoach]

@glentubin

Marubozu (shaven candle) has a large body and no shadows. This indicates strong buying or selling. The bullish version opened on its lows and was driven much higher to close on its highs. This is very bullish (generally). Vice versa for the bearish version. Of course, always consider the context of the market - it could be a climactic rally/fall.

Cheers,

Lance.

[MikeTysonEatsKids]

Has anyone had nay real world success with day trading?

I ask because I wanted research this as much and then go into it.

I recently read a book by William O'neil and I understood it pretty well though it does use a lot of fundamentals.

Has anyone really mastered this? what books would you suggest i read ot get a good understandin so i can make some money on my own?

[YourTradingCoach]

@MikeTysonEatsKids

Thanks for your comments & questions. It's not possible to answer your question, and the followup questions on the next couple of videos, via the youtube comments system. They limit me to 500 characters only and don't allow links. I'd like to pass on some links to read, rather than books. So if interested, please contact me via the contact page on my website. You'll find a link to the site at the top right of any youtube video page.

Cheers,

Lance.

yourtradingcoach

[digitalpain1]

mate - Thanks !

[morgandrim]

Hi Lance. I`ve been looking at trading the markets for a couple of months. Would you say that someone new to this would be wise to invest in some Level II software ?

[YourTradingCoach]

Hi morgandrim,

I can't recommend what's right or wrong for you. However, if I was starting out again the following would be my thoughts...

Given the failure rates of new traders, I'd aim to ensure ALL expenses are minimised. There are numerous brokers who provide platforms with exceptional tools, available at no cost. I'd seriously consider using these free resources while learning to trade.

Cheers,

Lance.

[morgandrim]

Hello again Lance. Please can you suggest a website that offers a free practice/demo account that utilises a candlestick platform ?I need to see stock performance history - using candlestick tech -and current buy/ sell price, all in one screen. To practice with.

Thanks for your time buddy,

Steve.

[YourTradingCoach]

Hi Steve,

I don't trade stocks so I'm not the best person to ask. The only high-quality free non-expiring demo for stocks that I know of is from Think Or Swim (can't put a link here so you'll have to do a search, or email me via my website). It has the historical data you'll need plus incredible functionality - all at no cost.

If any stock traders read this comment and can suggest an alternative, please add your comment.

Cheers,

Lance.

[ghazalhora]

at 5.50 u said that its an hour charrt but there are only 18 candles wats up wit that could you explain wat value the candle holds because that does not make sense acording to chart analysis

it works out that each candle hold a value of 3,33 explain

[YourTradingCoach]

Hi ghazalhora,

Sorry for any confusion.

Each candle represents one hour of price movement.

Regards,

Lance

[ghazalhora]

your vids are very good for beginners you should write a book

i really enjoyed the formation stuff it was very good morning star patterns and all that trust me it was well explained

[YourTradingCoach]

Thanks ghazalhora,

Much appreciated. I'm glad you enjoyed the candlestick vids.

Happy trading,

Lance.

[TheDjbang]

Hi Lance,

I'm wondering if you have advice on a good forex broker?

I'm in Sydney and have been researching FXCM as a forex broker.

So far I've tested their demo account and it seems stable. I've read reviews on their services by some of their ex clients who were dissatisfied with the service.

I'm not sure if the service is at fault or that the clients were amateurs.

So a point in the right direction would be well appreciated.

Love your teaching method!

[YourTradingCoach]

Hi TheDjbang,

General questions like this are best asked through my website, so I'm not limited to 500 character responses.

It's actually not legal in Aust for me to recommend a broker (financial advice). Just try a number of demo's, and try calling their customer spt lines during peak times. Pick the one you like best. Then if they don't work out, ditch them & try another.

Remember, you'll find negative comments for all brokers on the net. Rarely do people post positives.

Cheers,

Lance.

[TheDjbang]

Ok thanks a lot.

Just finished watching all your videos and I really appreciate the time and effort that you've put into sharing your knowledge with the world.

Your teaching style is highly conducive in understanding these concepts.

thankxx a $M

[Quannah07]

this guy is the master and should be paid for speaking, fricken accents.

But yeah awesome I will sure criticize and learn, as I want to be a shark, a red indian shark.

[castelinop]

Very well done, great introduction to candlestick trading for someone like me. Great Job, these videos will help me on my path to become a better trader.

[YourTradingCoach]

Hi castelinop,

Thanks for the great feedback. I'm glad you enjoyed the video.

Happy trading,

Lance.

[zeffery57]

Hi,

On what time frame does this candlestick tutorial apply/

Thanks.

[YourTradingCoach]

Hi zeffery57,

Any market, any timeframe, provided it's liquid enough to ensure smoothly flowing price, rather than price jumping all over with lots of gaps (have a look at some of the illiquid options contracts on an intraday timeframe for an example of an unsuitable market.

Cheers,

Lance.

[morgandrim]

This is waht I`ve been looking for. Thanks bloke ! It has educated me somewhat.

[YourTradingCoach]

Hey morgandrim,

Thanks for the feedback. Glad you enjoyed the videos.

Cheers,

Lance.

[lambo485]

GOOD VIDEO;) THX

[affectedstudent]

excellent explanation..thanks buddy

[YourTradingCoach]

Hi affectedstudent,

I'm glad you enjoyed the video (and all the others).

thanks for your feedback,

Happy trading,

Lance.

[iftyshifty]

Cannot THANK YOU enough for this excellent tutorial.

[YourTradingCoach]

Hi iftyshifty,

You're more than welcome. I'm glad you've found it useful.

Cheers,

Lance.

[ahmadyoo]

Does represent length of a candle stick

that how much price move for a time like

an hour or a day ? what does mean width

of candle stick ?

[YourTradingCoach]

Hi ahmadhoo,

The low point of the candle is the lowest level that price reached during the candle. The high is the highest price reached during the candle. So, the range from low to high is the complete price range for the duration of that candle. The width is has no significance.

Cheers,

Lance.

[ahmadyoo]

thanks for your answer.

i understand meaning of candle's length.

[birchmanllc]

Candlesticks are pretty cool. I'm just now learning them and intend to use them along with my indicators. As long as I can figure out how to make them objective I'm good.

[YourTradingCoach]

Hi birchmanllc,

Remember though, they're not the Holy Grail. The patterns are objective in showing a short-term change in sentiment, but be sure to look at where the pattern is occurring within the market structure, and ALWAYS manage risk.

[djfu74]

The concept of candlestick charting is amazing.

The sheer amount of information that is apparent on sight once you know what you're looking at is mind-boggling.

[YourTradingCoach]

Hi djfu74,

What I find amazing is the fact that a OHLC chart actually provides the same information. The difference is not in the chart, but in our ability to perceive the information. So, what other information is actually right there in the price action, that we haven't seen yet because we didn't now how to look?

Cheers,

YourTradingCoach

[djfu74]

What are OHLC charts?

[YourTradingCoach]

Open High Low Close - standard western style bar charts.